This Indian entrepreneur became a billionaire as the Covid-19 crisis hit global supply chains
One reason is the recent change in sentiment towards China. As the Covid-19 pandemic has spurred many businesses to reassess their supply chains that depend upon China, where the virus is believed to have originated, investors are hoping that Indian companies across many sectors including chemicals will increase their market share as global clients look for low-cost alternatives, Akella said.
“Post-Covid-19, I see a huge opportunity for the chemical industry in India to show significant growth,” Ashish Bharat Ram, Arun’s son and managing director at SRF, said by email. “Having said that, it will depend on each company in India as to how they leverage this opportunity, plus a lot will depend on how we can speed up the regulatory approval process as well. At SRF, we have made the right investments to seize the market opportunities as they arise.
The initial call to invest in technology was led by Bharat Ram himself who is passionate about technology, says his son. “He would be excited about developing new molecules,” Ashish said. Prior to that re-rating, SRF’s stock languished at around 200 rupees and was range-bound for nearly a decade, going as low as 70 rupees during the global financial crisis. But that changed after February 2014, the last time it was at 200 rupees and has since only gone up.
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